This office lease form describes provisions for using the area in the case of a single tenancy floor, within the exterior walls of the New Building, or, in the case of a multiple occupancy floor, within the exterior walls, party walls or corridor walls which is considered to be usable area .
Title: Oklahoma Provision: Using Usable Area as the Measurement Standard for Midtown Manhattan Modern Office Towers Keywords: Oklahoma Provision, Midtown Manhattan, modern office towers, usable area, measurement standard Description: The Oklahoma Provision, also known as the Usable Area Measurement Standard, is widely used in Midtown Manhattan to determine the floor area within modern office towers. It plays a crucial role in promoting transparency and accuracy in measuring office spaces, benefiting both tenants and landlords. Traditionally, office spaces were measured using the Gross Leasable Area (GLA) method, which included common areas such as hallways, stairwells, and mechanical rooms. However, this often resulted in discrepancies between the actual usable area and the calculated leasable area. To alleviate these discrepancies and provide tenants with a more realistic representation of their space, the Oklahoma Provision was introduced. Under the Oklahoma Provision, only the usable area within an office tower is considered for measurement. This area comprises the actual space available for tenants to utilize, including private offices, cubicles, conference rooms, and workstations. Excluded from the calculation are shared spaces, building amenities, and circulation areas within the building. By utilizing the usable area measurement standard, both tenants and landlords benefit in various ways. Tenants can accurately assess the actual space they will have available for their business operations, allowing them to make informed decisions during the leasing process. This ensures that tenants are not paying for unused or irrelevant areas, optimizing their productivity and resource allocation within the office space. For landlords, adherence to the Oklahoma Provision establishes a fair and transparent method of calculating rentable area. It provides a reliable framework for leasing negotiations, ensuring that tenants are billed based on the actual area they occupy. Furthermore, it contributes to building trust with their tenants, leading to long-term and mutually beneficial relationships. In Midtown Manhattan, several modern office towers have adopted the Oklahoma Provision as the measurement standard. Some notable examples include the Empire State Building, One World Trade Center, the Chrysler Building, and the Rockefeller Center. These renowned structures serve as exemplars of the commitment to accurate measurement practices, benefiting both the commercial real estate industry and the tenants they house. Overall, the implementation of the Oklahoma Provision, using usable area as the measurement standard, establishes a fair and practical approach to calculating office space within modern Midtown Manhattan office towers. Its adoption by numerous renowned buildings signifies its effectiveness in promoting transparency and accuracy in the leasing process.Title: Oklahoma Provision: Using Usable Area as the Measurement Standard for Midtown Manhattan Modern Office Towers Keywords: Oklahoma Provision, Midtown Manhattan, modern office towers, usable area, measurement standard Description: The Oklahoma Provision, also known as the Usable Area Measurement Standard, is widely used in Midtown Manhattan to determine the floor area within modern office towers. It plays a crucial role in promoting transparency and accuracy in measuring office spaces, benefiting both tenants and landlords. Traditionally, office spaces were measured using the Gross Leasable Area (GLA) method, which included common areas such as hallways, stairwells, and mechanical rooms. However, this often resulted in discrepancies between the actual usable area and the calculated leasable area. To alleviate these discrepancies and provide tenants with a more realistic representation of their space, the Oklahoma Provision was introduced. Under the Oklahoma Provision, only the usable area within an office tower is considered for measurement. This area comprises the actual space available for tenants to utilize, including private offices, cubicles, conference rooms, and workstations. Excluded from the calculation are shared spaces, building amenities, and circulation areas within the building. By utilizing the usable area measurement standard, both tenants and landlords benefit in various ways. Tenants can accurately assess the actual space they will have available for their business operations, allowing them to make informed decisions during the leasing process. This ensures that tenants are not paying for unused or irrelevant areas, optimizing their productivity and resource allocation within the office space. For landlords, adherence to the Oklahoma Provision establishes a fair and transparent method of calculating rentable area. It provides a reliable framework for leasing negotiations, ensuring that tenants are billed based on the actual area they occupy. Furthermore, it contributes to building trust with their tenants, leading to long-term and mutually beneficial relationships. In Midtown Manhattan, several modern office towers have adopted the Oklahoma Provision as the measurement standard. Some notable examples include the Empire State Building, One World Trade Center, the Chrysler Building, and the Rockefeller Center. These renowned structures serve as exemplars of the commitment to accurate measurement practices, benefiting both the commercial real estate industry and the tenants they house. Overall, the implementation of the Oklahoma Provision, using usable area as the measurement standard, establishes a fair and practical approach to calculating office space within modern Midtown Manhattan office towers. Its adoption by numerous renowned buildings signifies its effectiveness in promoting transparency and accuracy in the leasing process.
